Uganda to Become Oil Producing Country

The Ugandan Investment Authority (UIA) director has met with investors from Kuwait to explore different options associated with extracting oil from Lake Albert. Large amounts of oil deposits were recently discovered there, and Uganda is now eager to become an oil producing nation. Uganda continues to pursue foreign investments in a number of areas, but adding oil to an already growing economy could do great things for the GDP in coming years. It is also good that the oil has been discovered in a time when Uganda has been making legitimate strides with stabilizing its economy. Hopefully it will be a clean start with as few complications as possible to ensure the most profit for the country. Different businesses will soon begin bidding for contracts to develop the proper infrastructure.